Port Authority, developer meet ahead of WTC deadline
By APThursday, March 11, 2010
Port Authority, developer meet over WTC plan
NEW YORK — The Port Authority of New York and New Jersey has met with a developer a day before a deadline to work out a new schedule for rebuilding parts of the World Trade Center site.
Construction is under way on 1 World Trade Center to be a Sept. 11 memorial and a transit hub, but the building of other planned towers has stalled. An arbitration panel set the Friday deadline.
Port Authority Executive Director Chris Ward said he was “mildly hopeful” with Thursday’s negotiations with developer Larry Silverstein. Silverstein declined to comment.
Silverstein has said he can’t get private financing to build three office towers. He wants more public financing. The authority says it’s better to delay construction on two of the towers until the real estate market improves.
